Emcure Pharmaceuticals is doubling down on expansion, both overseas and at home. The Indian pharmaceutical major announced two major developments this week: the acquisition of a strategic pharma portfolio in the UK through its European arm Tillomed, and a licensing deal in India via subsidiary Emcutix to bring an innovative derma-cosmetic treatment to Indian consumers.
Tillomed-Manx Portfolio Acquisition
Emcure’s UK-based subsidiary Tillomed Laboratories, has signed an Asset Purchase Agreement (APA) with Manx Healthcare and its subsidiaries to acquire a suite of pharmaceutical products along with intellectual property and inventory.
The total deal is valued at GBP 19.7 million (~INR 218.66 crore), including GBP 4.7 million (~INR 52.16 crore) for inventory. An upfront payment of GBP 6.2 million (~INR 68.81 crore) will be followed by milestone-based payouts over the next 18 months.
The acquisition is expected to significantly bolster Tillomed’s product offerings in the European market, where it already operates across multiple countries.
“Through the acquisition of Manx’s established and high-quality product portfolio, we reinforce our commitment to delivering accessible healthcare solutions,” said Ajit Srimal, CEO of Tillomed.
Based in Luton, UK, Tillomed is focused on developing and distributing generic medicines. The company, backed by Emcure’s R&D and manufacturing infrastructure, markets over 100 products across Europe.
Emcutix-WiQo Ink Deal to Introduce Needle-Free Skin Treatment in India
On the domestic front, Emcure’s dermatology-focused subsidiary Emcutix Biopharmaceuticals has entered into an exclusive licensing agreement with WiQo, an Italian company known for non-invasive skincare solutions.
The deal gives Emcutix the exclusive rights to import, promote, distribute, and sell PRX-PLUS, WiQo’s flagship needle-free skin booster, in the Indian market.
Positioned as an alternative to injectable aesthetic procedures, PRX-PLUS offers instant skin tightening and rejuvenation with no downtime. The patented solution has already seen over 8 million applications globally, according to WiQo.
“With PRX-PLUS, we are bringing a category-defining product to India’s evolving skincare market,” said Sathya Narayanan, CEO of Emcutix. “This partnership supports our mission to offer high-quality, accessible dermatology solutions.”
India’s dermatology market is valued at around USD 1.8 billion (~INR 15,338 crore), growing at a double-digit rate, according to Indian Pharmaceutical Market (IPM) data.
WiQo, founded in 1994 and recently acquired by private equity firm ARCHIMED, is expanding globally through partnerships and acquisitions. Its portfolio includes PRX-PLUS and PRX-T33, both part of a new wave of non-invasive skin health products.
Looking Ahead
The two announcements underline Emcure’s strategy to strengthen its presence in both regulated international markets and high-growth domestic niches. While the Tillomed-Manx deal deepens its footprint in Europe’s generics sector, the Emcutix-WiQo alliance positions the company in India’s rapidly growing aesthetic and derma-cosmetic space.
Emcure Pharmaceutical IPO Details
Founded in 1981 and headquartered in Pune, Emcure ranks as the 12th-largest Indian pharma company by domestic sales, with a presence in over 70 countries. The company launched its IPO on 3 July 2024, with an issue size of INR 1,952.03 crore. The issue was subscribed 67X and delivered an impressive 34.84% returns on listing day.
